Business spending plans, durable goods orders rise
l The Federal Aviation Administration on Thursday instructed airlines to remove or inspect emergency beacons in Boeings 787 Dreamliners after a fire earlier this month that was traced to one of the units, made by Honeywell International. The airworthiness directive goes further than the guidance from the FAA last week, when it said airlines should inspect the units on 787s for pinched wires in the casing and for evidence of heat or moisture. The agency is now aligned with Boeing, which advised airlines last week to inspect or remove the device, known as an emergency locator transmitter. l General Motors posted a higher-than-expected second-quarter profit Thursday as aggressive cost-cutting helped the U.S. automaker narrow its losses in Europe.
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(Infographic) The second-quarter results mark the third consecutive quarterly increase in optimism about the U.S. economy, reaching one of the highest levels since the Great Recession, the survey says. The percent of business owners feeling more optimistic this quarter increased nine percentage points from the previous quarter and 17 from the fourth quarter of 2012, according to the survey. “As we get further and further away from the recession, companies are more confident that they survived, that they touched the bottom and bounced back up,” says Ken Esch, a partner with the PricewaterhouseCoopers Private Company Services practice. Recent improvements in the housing and labor markets have underscored that confidence in the recovery, Esch says. Looking forward, trends in optimism are “pointing upward,” he says.
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Business Owners More Optimistic About U.S. Economy
That followed a 1.9 percent increase in May and pointed to moderate growth in business spending on capital equipment in the second quarter. Last month, demand for transportation equipment increased 12.8 percent, buoyed by a surge in orders for civilian aircraft. Boeing received orders for 287 aircraft, adding to May’s 232 tally, according to information posted on its website. Orders for motor vehicles advanced 1.3 percent after falling 0.8 percent the prior month.
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